Santa Clara - Feb 14, 2008 - Thoma Bravo and Macrovision Corporation (NASDAQ: MVSN) today announced that an affiliate of TCB has entered into a definitive agreement with Macrovision Corporation to acquire Macrovision's Software Business Unit in a cash transaction valued at approximately $200 million. The transaction is subject to customary conditions to closing, including review under the Hart-Scott-Rodino Antitrust Improvements Act, and is expected to close on or before April 1, 2008. The completion of the transaction is not subject to Macrovision stockholder approval.
"This is a very exciting opportunity for our software business unit. We have taken tremendous pride in developing and selling award-winning software solutions that strive to exceed our customers' needs," stated Fred Amoroso, President and CEO of Macrovision. "I believe Thoma Bravo will provide the focus and resources needed to continue growing the Software business."
"Macrovision's software business has a tremendous franchise associated with each of its product lines and we are impressed with its leadership position in each of the market segments it serves," said Orlando Bravo, Managing Partner of Thoma Bravo. "We look forward to working with the management team and employees to deliver increased value for customers and enhance the growth of the business," added Seth Boro, Principal with Thoma Bravo.
The transaction will result in a stand-alone company focused on providing solutions that help simplify the business relationship between software producers and enterprises. All products and associated support and services from within the Software Business Unit are part of the transaction. Mark Bishof, currently Macrovision's Executive Vice President and General Manager of the Software Business Unit, will assume the role of CEO for the stand-alone software company following the close of the transaction.
Specifically, the transaction includes the FlexNet® and InstallShield® family of products for software producers which help manage entitlements, software licensing, compliance, installation, and electronic software delivery for independent software vendors (ISV's). For enterprises, complementary solutions are offered that help IT departments with asset management, specifically in how to manage license usage and planning as well as mass deployment of software represented by the Adminstudio® product line.
Flexera is reimagining the way software is bought, sold, managed and secured. We view the software industry as a supply chain, and make the business of buying and selling software and technology asset data more profitable, secure, and effective. Our Monetization and Security solutions help software sellers transform their business models, grow recurring revenues and minimize open source risk. Our Vulnerability and Software Asset Management (SAM) solutions strip waste and unpredictability out of procuring software, helping companies buy only the software and cloud services they need, manage what they have, and reduce compliance and security risk. Powering these solutions and the entire software supply chain, Flexera has built the world’s largest and most comprehensive repository of market intelligence on technology assets. In business for 30+ years, our 1300+ employees are passionate about helping our 80,000+ customers generate millions in ROI every year. Visit us at www.flexera.com.
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